Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
Potential Penalties And Ethical Problems In Filing An Amended Return: The Case Of The Repentant Sports/Entertainment Figure's Legal Expenses Deduction, John R. Dorocak
Potential Penalties And Ethical Problems In Filing An Amended Return: The Case Of The Repentant Sports/Entertainment Figure's Legal Expenses Deduction, John R. Dorocak
Maine Law Review
A prominent sports/entertainment figure walks into your office (all preparers should be so lucky). He is in a repentant mood--not because he escaped conviction for the murder of his former wife and her friend, but because he deducted his legal expenses in defending against the criminal prosecution and the civil wrongful death suit. This Article discusses the obligation of the taxpayer, even one as nefarious as the athlete posited, and the practitioner to file an amended return. As one pair of commentators has stated, “How should the amendment be made, and what are the possible consequences of amending a return? …
Protective Claims For Refund: Protecting The Interests Of Taxpayers And The Irs, Kristy M. Bowden
Protective Claims For Refund: Protecting The Interests Of Taxpayers And The Irs, Kristy M. Bowden
Maine Law Review
The Internal Revenue Code provides taxpayers wishing to claim a refund of an overpayment of taxes with a simple, straightforward provision setting forth a taxpayer's right to make such a claim. Additionally, regulations exist that provide for the procedure to be followed in order to claim a refund, further clarifying what is expected of the taxpayer. Unfortunately, not all situations that give rise to the right to claim a refund are so straightforward and simple. Taxpayers may find themselves in a situation that seems to have very little direct connection with tax, but may nonetheless result in significant tax consequences. …